Worthwhile for anyone who is trying to raise money for virtually any purpose.
This is a repost that seems truer now, after the U.S. alone has spent 1/8 Trillion dollars in cash, armaments and support, than when it was posted.
May 24, 2022
Earlier we saw what the Ukrainian President actually did: "Fundraising Lessons From Volodymyr Zelensky: Get In Front Of The World Economic Forum.... Ask For $5 Billion.... Per Month", now the lessons that his actions illustrate.
I call it the big ask.
1) You have to talk to the people who can make the decision, anything else is wasting your time while your interlocutor is getting paid. This can be more challenging than it looks.
I prefer to speak directly with a principal but in some cases, say a family office, you want to see if there is an agent of the principal who is trusted to both make the yes decision and cut the check. What you don't want is to pitch the agent who will pitch the person with the money. It doesn't work
2) You have to talk to people who have the money you request. It seems obvious but again it is a waste of your time to ask someone who would blanch at $100k for $100 mil.
And more importantly, getting no's is mentally wearing on a person, so clearing the field of as many negatives as possible is just good psychological hygiene.
3) You have to get the attention of your potential patron. The most efficient way is to already know them i.e. "Hi mom". For more distant degrees of separation (or consanguinity) the most constructive approach is to get referred in. And the way to get referrals is to ask.
And the way to ask is both simple and straightforward: "Who do you know?"
No beating around the bush, no hemming and hawing, just "Who do you know?
And don't allow the person you are asking to "think about it" You want names and you want them now. And amazingly, people will either say "I don't know anyone" or they will give you a name on the spot. And the first couple people they come up with are apt to be both more interested and more financially capable than the referrer is. People don't refer down.
After you get a name or three ask if the referrer minds if
you mention who referred you (otherwise it's not a referral) Assume that
even if you are told that "I'll make introductions" that you may have
to make the initial approach on your own.
4) You have to make you pitch interesting from the perspective of the person you are talking to. Thus, if you've gotten yourself in front of Mrs. Bigg, of the Philadelphia and Palm Beach Bigg's, and you want a check for something philanthropic while warily eyeing her enormous Persian cat, mention a cat show or Catster Magazine or Cornell's Cat Watch (but maybe not the "Those Annoying Anal Glands" article, at least at first meeting)
And how did you happen to think about cats? Because after getting the referral you thought to check the Palm Beach Post to see if they had any mention of the Mrs. Bigg and saw that the cat that looks like it could eat a small child just took the Blue Ribbon at some cat show and is probably worth a half-million bucks.
note: if rejected, resist the impulse to abscond with the cat and hold it for ransom.
5) Be aware of the difference between a one time meeting and someone you'll have a chance to grow on and charm over time.
6) Do not hustle, manipulate, or lie. That's just bad manners and possibly a felony.
7) If your interest is in, say, honesty in media, sit down and try to think of some billionaire or other who has a similar interest. And maybe if they don't want to be a patron for your project (at the moment) maybe there's a way for you to work on theirs.
Opportunity is everywhere.
— INVESTMENT HULK (@INVESTMENTSHULK) December 22, 2021
